The Indian markets that slipped to a 28-month low on Tuesday are likely to see a positive start today tracking global cues. Asian stocks on Wednesday after upbeat US and German data and strong demand for Spanish debt, with investors' focus turning to a European Central Bank's tender as a gauge for euro zone funding strains.
MSCI's broadest index of Asia Pacific shares outside Japan rose 1.1 per cent, while the Nikkei stock average opened up 1.3 per cent.
Wall Street stocks jumped nearly 3 per cent, led by banks, after the Federal Reserve's new capital proposals turned out to be less worrying than feared.
Back home, analysts suggest that the Nifty could seek support around 4,500 – 4,480 levels, while it will face resistance around 4,585 – 4,610. At 720 am Indian Standard Time, the SGX Nifty was trading at 4660; up 93 points or 2 per cent.
Among individual stocks, GTL could be back in focus today on reports that its lenders have approved a debt recast plan.
Ashok Leyland has acquired an additional 49.1 per cent stake in British bus maker Optare Plc. This could bring the stock back in focus today.
Also watch out for Tata Motors that announced plans to up output of light commercial trucks from its Pantnagar plant by up to 90,000 vehicles per year from early 2012.
NDTV could also be in limelight today on reports that Abhey Oswal Group has bought a 14.2 per cent stake in the company for 24.24 crore.
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